If you have a cash flow, yielding you profits, there should never be a time when you “have” to sell a place. That means you can sell if, when and how you like.
I have this house that I tried to sell a few years back when I was investing in bigger commercial building. I wanted to free some cash to help pay for the new place. But.. It wasn’t a great time to sell and the bids weren’t as good as I wanted them to be. As I didn’t get the money I wanted I decided to keep the house, rent it and use the profits from rent to help pay for a bigger loan on the new property I bought. Imagine not having the cash flow, been forced to sell even at a rubbish price because there was no option?
Now, two and a half years later I’m doing the same thing again. I have a new big commercial building on the way in, so decided to put the small house above on the market again to see if I could free some cash to use in the new project. If I get a good offer, great! If no, I’ll rent it to someone on my massive list of tenants looking for housing and use the profits from rent to pay for a bigger loan on the new property.
Cash flow is king :)
How much are you hoping to get for this property? Where is it located?
Hello Eric.
The property is located 10 kms south of Falkenberg in Sweden. Hoping to get at least 112 000 USD.
Thanks for posting!